Yesterday, the high point of the Big Pancake BTC was 36168.8, closing at 36412
Yesterday, the high point of the Big Pancake BTC was 36168.8, closing at 36412.1, with an amplitude of 5.54% or an increase of 0.67%. Yesterday, the main trend was upward, with the closing price below the 5-day line, with bearish forces dominating the medium to long term.
Previously, it was analyzed that the subjective market of individual pancakes is still relatively short. It is also mentioned that patience is needed to wait for the market to effectively exit the center and refrain from operating. This shows that when the market is in long-term fluctuations and refuses to leave the center, patience is still needed. Subjective judgment errors can sometimes be cruel, breaking new highs and reaching a high of 3.85w for the perpetual contract. In the following days, the low point has returned to the previous central range again, but today it has rebounded strongly and risen again. The high point has once again reached 3.8w. Therefore, a question in my mind is, can the big cake go for 4w in the near future? This is the main concern at the moment, as I feel that the main focus in the later stage is on idle operations.
30mink line diagram
From today's overall trend, the market for pancakes is clearly dominated by multiple forces, and the long-term trend is still in a multi-party trend. The 4h structure has not been damaged, and the main contradiction today is that the spot pancakes have broken a new high, but the perpetual contract has not broken a new high. So, is there a selling point here, whether it is a first sale or a second sale? It may not be possible to provide an answer at the moment, so bears need to be very cautious. From the perspective of the daily pattern, there has not been a strong top split yet, and currently, it is still dominated by multiple parties. In order to avoid the market directly breaking new highs again, it is best for bears to stop losing from the previous high. Personal opinion: patiently wait for this 30 minute pullback to fall, wait for the rebound of the 0 axis to be pulled back, and if unable to break a new high, you can enter the market with an appropriate short order.
Bitcoin BTC Market Analysis (11/08)
Note: The currency market carries risks and caution is required when entering the market.
Risk reminder: The opinions mentioned in this article only represent personal opinions, and the subject matter involved is not recommended. Trading based on this will be at your own risk
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
